Ecuadorian bond spreads jumped this week after the failure of a government tax proposal, but we think that the market has gone too far and that today’s rebound has further to run. Brazil’s currency also had a bad week, but we doubt that this will prevent policymakers from cutting their key rate next week. Finally, talks between the Argentina’s president-elect and the head of the IMF showed that the two sides are still not seeing eye to eye.
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